s111 Verizon? 1:24 PM Discussion Details Back 18SU-MGT-510-99 Operations Managem

Question

s111 Verizon? 1:24 PM Discussion Details Back 18SU-MGT-510-99 Operations Management Here is a practical example of EVM (Earned Value Management). Three values, BCWS, BCWP, and AC, are all cumulative Acronyms BCWS (Budgeted Cost of Work Scheduled) is equal to PV (Planned Value) BCWP (Budgeted Cost of Work Performed) is equal to EV (Earned Value) AC (Actual Cost) is the actual costs that we pay for the works Variances Schedule variance: when BCWP BCWS is negative, the project is behind schedule, when the value is O, it is on schedule, and when the value is positive, it is ahead of schedule Cost variance: when AC - BCWP is negative, the project is under budget, when the value is 0, it is on budget, and when the value is positive, it is over budget. Dashboard Calendar To Do Notifications Inbox

Explanation / Answer

Day 1- BCWS = $100, AC=$50, BCWP =$200 we are ahead of schedule and under budget.

Day 2- BCWS = $200, AC=$150, BCWP =$200 we are on schedule and under budget.

Day 3- BCWS = $300, AC=$250, BCWP =$200 we are behind schedule and under budget.

Day 4- BCWS = $400, AC=$450, BCWP =$300 we are behind schedule and over budget.

Day 5- BCWS = $500, AC=$450, BCWP =$300 we are behind schedule and over budget.

Day 6- BCWS = $600, AC=$750, BCWP =$700 we are ahead of schedule but over budget.

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